⚙️TradingView Configuration
Introduction to Configuration on TradingView
Last updated
Introduction to Configuration on TradingView
Last updated
Proper configuration of an indicator is crucial to leverage all its analytical capabilities. In this section, we will explain how to configure the "Quantitative Qualitative Estimation" indicator in TradingView, describing each parameter and its impact on the indicator's behavior.
The Tradefi.bot QQE (Quantitative Qualitative Estimation) Indicator offers several input parameters that allow traders to customize the indicator according to their trading style and market conditions. This page will explain what each input does and how to configure its value effectively.
Description: This parameter sets the period for calculating the Relative Strength Index (RSI).
Default Value: 6
Adjustable Range: Any positive integer
Configuration Tips:
A shorter length (e.g., 6) makes the RSI more responsive to price changes but may increase noise.
A longer length (e.g., 14) smooths out the RSI, making it less sensitive to short-term fluctuations.
Description: This parameter applies a smoothing factor to the RSI to reduce noise.
Default Value: 5
Adjustable Range: Any positive integer
Configuration Tips:
Higher values provide more smoothing, which helps in identifying the overall trend more clearly.
Lower values make the RSI more reactive to price changes.
Description: The source of the price data used for the RSI calculation.
Default Value: Close
Options: Open, High, Low, Close, HL2 (average of High and Low), HLC3 (average of High, Low, and Close), OHLC4 (average of Open, High, Low, and Close).
Configuration Tips:
"Close" is the most common setting and often used for simplicity.
Choosing different sources can provide different perspectives on market movements.
Description: This factor is used for the Quick QQE calculation.
Default Value: 3
Adjustable Range: Any positive integer or float
Configuration Tips:
Lower values make the QQE indicator more sensitive to price changes.
Higher values provide a smoother line, filtering out minor fluctuations.
Description: The threshold value for generating signals.
Default Value: 3
Adjustable Range: Any positive integer or float
Configuration Tips:
Lower values generate more frequent signals.
Higher values filter out minor signals and highlight stronger market movements.
Description: The period for calculating the Bollinger Bands.
Default Value: 50
Adjustable Range: Any positive integer
Configuration Tips:
A shorter period makes the bands more responsive to price changes.
A longer period provides a broader view of market volatility.
Description: The multiplier for the Bollinger Bands.
Default Value: 0.35
Adjustable Range: 0.001 to 5 (with step adjustments of 0.1)
Configuration Tips:
Higher multipliers widen the bands, reflecting greater volatility.
Lower multipliers narrow the bands, indicating less volatility.
Description: Identifies zero-crossing points, which indicate trend changes.
Configuration Tips:
Enable this setting if you want to spot shifts in market momentum and potential reversals.
Open the Settings Panel
Click on the settings (gear) icon next to the indicator's name in the chart legend after adding it to your chart.
Adjust RSI Settings
Set the RSI Length, Smoothing, and Source according to your trading strategy and preference.
Set QQE Parameters
Adjust the Fast QQE Factor and Thresh-hold values to fine-tune the indicator's sensitivity to market movements.
Configure Bollinger Bands
Define the Bollinger Length and Multiplier to suit the asset and timeframe you are analyzing.
Enable/Disable Zero Cross
Toggle the Zero Cross option based on your need to identify trend changes.
RSI Length: 6
RSI Smoothing: 5
RSI Source: Close
Fast QQE Factor: 3
Thresh-hold: 3
Bollinger Length: 50
BB Multiplier: 0.35
Once you have adjusted all the input parameters, click "OK" to apply the settings to your chart.
Save your indicator settings as a template for future use by clicking on the "Templates" button and selecting "Save Indicator Template."
By understanding and configuring the inputs of the Tradefi.bot QQE Indicator, you can tailor it to better fit your trading style and market conditions. Proper configuration allows you to leverage the full potential of this powerful tool, enhancing your ability to identify market trends, potential reversals, and optimize your trading performance.
Once the indicator is configured, it is crucial to conduct tests under different market conditions to validate its effectiveness. Traders should adjust the parameters and observe how these modifications affect the indicator's signals to optimize its performance according to their trading style.
Properly configuring the "Quantitative Qualitative Estimation" indicator in TradingView is an essential step to maximize its utility. A deep understanding of each parameter allows traders to tailor the indicator to their specific needs, significantly enhancing trading decisions based on technical analysis.
